Crude Oil (CL1) Down $0.15 Over Past 4 Hours, Underperforms All energy commodity; 3 Day Up Streak Snapped

Crude Oil 4 Hour Price Update

Updated May 03, 2021 01:54 AM GMT (09:54 PM EST)

The back and forth price flow continues for Crude Oil, which started the current 4 hour candle off at 46.6 US dollars, down 0.32% ($0.15) from the previous 4 hours. On a relative basis, Crude Oil was the worst performer out of all 6 of the assets in the energy commodity asset class the current 4 hour candle.

Crude Oil Daily Price Recap

Crude Oil is down 2.2% ($1.43) since the day prior, marking a reversal from the day prior — and the end of a 3 day positive run. Those trading within the energy commodity asset class should know that Crude Oil was the worst performer in the class today. The daily price chart of Crude Oil below illustrates.

CL1

Crude Oil Technical Analysis

Notably, the current price of Crude Oil is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Crude Oil’s price has gone up 18 of the previous 30 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Crude Oil:

  • From castletocastle2:

    @JDMahama During your term when the price of crude oil drop you told Ghanaians we just maintain the high cost … Now because you are also paying for fuel and other things you are now feeling our pains you are coming to give us sweet talks

  • From DrOlusesan:

    @The9jaHybrid @mamannajwa I’ll be less critical of his enthusiasm because he did this without having an engineering background. Apart from economics, his idea may have given less considerations to d environment. Nonetheless, we can’t conclude using crude oil to generate power cant be economically viable.

  • From JcandaceJ:

    Is the governor of Michigan absolutely crazy? She wants to ban the pipeline that feeds not only Ontario etc with its crude oil, natural gas and propane, but the entire North East of the US would face epic shortages that rail could never replace.

In terms of news links for Crude Oil here’s one to try:

Bayelsa community resists soldiers to free five tankers believe to be stolen crude oil | NN NEWS – NN News

Vigilant people of Biseni in the Yenagoa Local Government Area of Bayelsa State have resisted attempts by men of the Nigerian Army to free five tankers conveying substance believed to be stolen crude oil.  It was learnt that the oil-producing community comprising men, women and youths, arrested the five tankers on April 25 and deflated their tyres following the discovery that they were loaded with crude reportedly siphoned from oil wells in the bushes around them.  Some soldiers who were allegedly part of the oil theft tried to intimidate the people but they refused to cave in, and this prompted the soldiers to mobilise more armed soldiers to the community on Friday, April 29 in order to forcefully move the tankers away, according to Saturday INDEPENDENT….The state government should stand by and with the good people of Biseni at these trying times.